Bruker Corp to raise funds to establish a $2 billion fund, with Saudi PIF committing to be a strategic cornerstone investor; Half of the funds, $1 billion, will be specifically used for investment within Saudi Arabia.
On October 31st, Financial Association News (Edited by Li Lin/Intern Editor Chen Yujia), at the "Future Investment Initiative" summit held in the Saudi capital Riyadh, the Saudi sovereign fund - Public Investment Fund (PIF) signed an important cooperation agreement with the globally renowned asset management company Brookfield Group.
According to the agreement, Brookfield will raise funds from various investors to establish a total fund size of $2 billion, with PIF committing to be a strategic cornerstone investor. Half of the fund managing assets, $1 billion, will be specifically used for investment within Saudi Arabia.
The Brookfield Group, which cooperated with PIF this time, is a financial giant with assets under management exceeding $1 trillion, one of the world's largest alternative asset management companies, focusing on real estate, infrastructure, wind power, and private equity and crediting sectors.
The newly established Brookfield Middle East Partnership (BMEP) will serve as Brookfield's new private equity investment platform in Saudi and the broader region. The platform will focus on investments in multiple areas including but not limited to industry, business and consumer services, technology, and medical care.
Through this platform, Brookfield aims to further promote private equity investment opportunities in Saudi Arabia and the Middle East, support the continuous development of the local economy, and consolidate Saudi Arabia's position as a global investment and economic growth center.
In addition to investment cooperation, Brookfield also plans to expand its influence in Saudi Arabia. The company will expand the scale of its office in Riyadh and launch its interactive learning system - Brookfield Academy, to further promote the development and nurturing of local talent.
As a giant in the global asset management industry, Brookfield has been a direct investor in the Kingdom of Saudi Arabia since 2015. In addition to Saudi Arabia, Brookfield has branches in Dubai, Canada, USA, UK, Brazil, India, and China, forming a global business layout.